Twitter (TWTR) PT Cut to $20 by SunTrust's Peck; 'Buy' Maintained
SunTrust Robinson Humphrey analyst Robert Peck cut his price target on Twitter, Inc. (NYSE: TWTR) to $20.00 (from $26.00) but maintained a Buy rating following fourth quarter results.
Peck commented, "With highly suppressed expectations, Twitter reported an inline-ish quarter and mixed 1Q guidance. However, most important was outlining the company’s strategy and vision from here, which should give investors hope. The performance of the stock and the company should now be determined by the execution against those goals. We remain cautiously optimistic given the number of catalysts (Periscope, logged-out users, enhanced targeting, Google (GOOGL, $706.85, Buy) integrations, etc.). We lower our PT to $20 from $26 to adjust for slightly lower estimates and market multiple re-rate."
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Shares of Twitter, Inc. closed at $14.98 yesterday.